Cyber risk management company CyberSaint announced that it has raised $21 million in Series A funding, led by Riverside Acceleration Capital (RAC). Additional investors include Sage Hill Investors, Audeo Capital, and BlueIO.
This funding round will build on customer momentum, accelerate market expansion, and continue the development of CyberSaint’s CyberStrong platform powered by its AI technology. And CyberStrong enables enterprises to master their cyber risk posture and drive executive alignment by automating compliance and translating cyber risk into financial terms.
Due to its innovative approach to simplifying and automating complex cyber risk management processes, the company has become a standard for cyber risk management across the Fortune 500. And since launching in 2016, the company has seen a remarkable growth trajectory and achieved many industry milestones.
KEY QUOTES:
“In an era where cyber attacks are becoming more frequent and sophisticated, the likelihood of breaches has escalated, leaving many organizations unsure of how to effectively reduce their risk. It is imperative that optimizing cyber risk posture is elevated to a business-critical level. Thanks to this latest funding, we’re positioned to expand swiftly and elevate cyber risk management to a pivotal role in enhancing organizational performance. This milestone wouldn’t be possible without the unwavering support from our customers, partners, and investors. My team and I are profoundly appreciative of the partnership we share, as it serves as our daily inspiration as we pioneer solutions in cyber risk management for enterprises worldwide.”
– Jerry Layden, CEO of CyberSaint
“At a time when cybersecurity has never been more important, CyberSaint has emerged as a leader in enterprise cyber risk management. Their in-depth understanding of the enterprise market, ability to translate risks into financial terms, and roster of blue chip customers are a true testament to their market momentum. We look forward to continuing to work with Jerry and the rest of the team as they expand their footprint and help empower cybersecurity teams worldwide.”
– Jim Toth, Managing Partner at Riverside Acceleration Capital
“The SEC requirements have elevated the conversation around cyber risk to the Boardroom. CyberSaint’s platform not only hits on the need for increased automation at the foundational compliance level, but also the need to link controls to risks to make cyber risk management real-time. Companies now can have a clear understanding of their cyber risk posture and optimize accordingly based on their most likely cyber losses, risk mitigated, and ROSI. Translating cyber risk into financial terms is a game-changer for C-suites and Boards, and CyberSaint has cracked the code on rapid time to value and scalability for enterprise cyber risk quantification. The CyberStrong platform is a powerful solution for every enterprise CISO looking to master their cyber risk posture.”
– Rinki Sethi, CISO at BILL
